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Florida to Officially Strip Disney of Self-Governing Status: 'The Corporate Kingdom Has Come to an End'

Posted by JJ The Psychotherapist on January 6, 2023 at 11:40 PM

Florida to Officially Strip Disney of Self-Governing Status: ‘The Corporate Kingdom Has Come to an End’

 


The Florida Legislature has announced that it is ending the self-governing status of the Reedy Creek Improvement District (RCID), where Walt Disney World is located. The RCID is located in parts of Osceola and Orange counties. This move comes after Republican Governor Ron DeSantis signed legislation in April stripping the company of its special tax status. The decision to end Disney's self-governance followed the company's public opposition to the Parental Rights in Education Bill, which DeSantis signed into law.


Under its self-governance status, which it has held since 1967, Disney was allowed to build roads and buildings without state authorization and was given tax benefits. It was also able to act as its own quasi-governmental territory. However, Governor DeSantis has stated that this deal was "inappropriate" and gave the company "extraordinary powers" including the ability to build nuclear power plants without going through permitting processes.


In place of Disney's self-governance, a state-run board will be implemented. The company will also be required to pay $700 million in accumulated debt, according to sources in the governor's office. This move is meant to address concerns that residents of Orange and Osceola County, where the theme park is located, would be responsible for a large sum of money if the company's special status was revoked and they were required to pay taxes for services.


The state's decision to set up a state-run board is also meant to ensure that Orange County cannot use the issue as a pretext to raise taxes on its residents. In a statement, Communications Director Taryn Fenske said, "Imposing a state-controlled board will also ensure that Orange County cannot use this issue as a pretext to raise taxes on Orange County residents."


Overall, the decision to strip Disney of its self-governance status means that the company will no longer have control over its own government and will have to follow the same laws as everyone else. It will also be responsible for its outstanding debts and will have to pay its fair share of taxes. As Fenske stated, "The corporate kingdom has come to an end. Under the proposed legislation, Disney can no longer control its own government, will live under the same laws as everyone else, will be responsible for their outstanding debts, and will pay their fair share of taxes."

Categories: Government, Politics, Culture

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